Benmosche's First Cost Cut: Fire McKinsey

Now this is rich with irony: AIG CEO Robert Benmosche's first cost cutting effort is to fire consultant McKinsey.

Of course, McKinsey's whole game is to come into a company and tell them how to slash costs.

McKinsey was to produce a multiyear roadmap, called... ready for it... Project Destiny, according to Bloomberg.

"Project Destiny is going to become dusty, and they will dust it off someday in the future,” Benmosche told employees. “What I want to do is create a vision for all of us. If you were me, would you want to sell all the parts right away or would you wait until the parts get bigger than the whole?”

Benmosche has his priorities straight -- cutting costs is crucial -- but this comes from someone who earlier this month, saw his request to use the company’s private jet declined and had to be told that it would be limited to business purposes.